Financially apathetic Millennials may be the U.S's biggest liability. Seriously, it may be the biggest issue for the generation of Americans under 40 years old. Apathy. Not really caring about much. Statistics are already showing that the millennial generation does not look to live life the same way as their parents or grandparents. Gone are the dreams to own a home. Too many of them either were burned in the housing bubble of 2008 or witnessed friends and family get burned.

So what does this mean? How does it translate to the world of Economics and Personal Finance? We have heard time and again that Millennials, (those born from 1982-2002), don't care to save that much, especially for retirement. They prefer to buy tech items like ipods, ipads and google glass. What we have not heard a lot about is how NOT spending money, especially on certain big ticket items, could hurt the economy. To further explore this topic lets take a look at some recent articles on the issue.

Stephen Gandel writes in a Fortune.com article, "not buying a house, not even being able to afford one, might be the best thing that ever happened to Millennials, financially speaking" Well this is an interesting argument and Stephen makes some good arguments on how renting versus buying is good for those in the generation of whom we speak. Is renting a better option for Millennials? It may be, but I can tell you this: it sucks for the rest of us! It sucks for the economy and quite frankly for all of the Solialist, leftist, markist redistribution folks; it is contributing to wealth inequality. That's right people! The very group whom are the biggest participants of the 99% movement are screwing themselves.

According to Census.gov, the home ownership rate among Americans age 35 and under has dropped from a high of 43% in 2004 to 37% in 2013.

This article form Yahoo Finance tells us about the "Delayed Adulthood" problem that causes the Millennial generation to not purchase big ticket items at the same age and rate that their parents did.

Ok, you say. Why do I care? How does this effect me? Just let the little buggers go out and screw themselves and blow all their money. Well....they are not blowing it in the standard or usual way to help our economy. By not buying cars, houses and other big ticket items their parents did at this age, they are not pumping money into the economy the way Demand Side economists would like. When 30% of 19 year olds do not have a license it can keep them from buying a car. A recent survey from American Student Assistance, (ASA), tells us that 63% of respondants say that student loan debt is keeping them from buying a car and 47% said it was keeping them from starting a small business. That small business thing really bothers Supply Side economists like myself. Because, you know, small business's create jobs! Good paying jobs!

Allow me to sum things up: 1) Less people buying cars means less jobs at OEM's (original equipment manufacturers), like GM, FORD and Chrysler, as well as car dealerships, mechanics, aftermarket stores, etc. The automotive industry, including dealerships, accounts for approximately3.5 percent of U.S. gross domestic product. In addition the auto parts industry accounts for 2.3 percent of the nations GDP.2) Less people are buying houses and that means less jobs for real estate brokers, construction workers and little guys working at Home Depot. Private Residential Investment accounts for 5% of GDP according to the Bureau of Economic Analysis.3) The economic impact of reduced purchasing by millennials breaks down like this:

U.S. GDP in 2013 was 16.8 trillion dollars

6.8% of GDP (Automobiles) reduced by an estimated 3.5% = a $39.98 billion dollar hit to the economy.

5% of GDP (Housing) reduced by 7% = a $58.8 billion dollar hit to the economy.

But doesn't Astutefinances.com think that the rich and small business owners create jobs? So why are you caring about Demand Side economics? Why are you guys so interested in consumption all of the sudden? We do think small business owners and the rich create jobs, and that is why we also see something else very interesting happening here. The transfer of wealth from those in the Millennial generation to those in generation X and the Baby Boomers. That is, with Millennials choosing to rent more in the housing market as well as to find alternative means of transportation, they are leaving money on the table. No longer are they building equity in a home as previous generations did. Because they have massive student loan debt, (about 30,000 per person average), they are forced to pay on that instead. Investors are picking up real estate at depressed prices and renting it out to these individuals in the 18-35 year old range. This, as well as the creation of companies like Zipcar and Uber, means that less people in the 18-35 age range are building wealth while a few in that age range and many in the 36-65 age range are building wealth. It is, however, not a big 99% vs. 1% conspiracy. It is simple economics. And when it comes time for these individuals to support the economy by themselves in 10-15 years......they will not have the requisite assets to do so.

Are you tired of being told that you are not qualified? Experience required? Or as Tesla so aptly put it "Long haired freaky people need not apply" Well then, stop looking and start creating. Below I will list some jobs that are easily created for little to no money. So, stop sitting on the couch wondering why you can't FIND a job and go CREATE one! ***Advertising is free on www.craigslist.com***

JOB

Car DetailerMowing Lawns/LandscapingBabysitting

Personal Assistant/Gopher

Fiverr.com

REQUIREMENTS

﻿Portable Vacuum/Carpet Cleaner, armor-all, soap, buckets, etc. $40 to $250 in start up costs depending on rent vs. buy of carpet cleaner.Lawnmower, weedwacker, trailer, etc. $75 to $1000 in start up costs depending on what you buy. A used 22 inch lawnmower($75) in the trunk of your car and you can be making 10-15 bucks an hour no problem.Zero start up costs. I pay my babysitter $10 an hour....not bad. Oh and that is under the table.Obviously you need a reliable car and a nice smartphone for this one. I will assume you already have the car and most likely the smartphone. People with money will happily spend it to save time. If you can sell someone time.....they will pay handsomely for it.This website is Awesome! You can sell your services for anything on this website. Building websites, promoting websites, singing, drawing, etc. If you can think of it...someone wants you to do it for them. Check it outwww.fiverr.com

Many people think that for one person to have more money someone else must have less. That is, that many people believe the rich are rich at the expense of the poor. This, however, is just not true. In the video below you will see Milton Friedman speak about how in the 19th century this was untrue. It is called the Robber Baron Myth. It is also untrue today.